PICK vs. GAL
PICK (iShares MSCI Global Metals & Mining Producers ETF) and GAL (SPDR SSgA Global Allocation ETF) are both exchange-traded funds - PICK is a Metals fund tracking the MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market Index, while GAL is a Diversified Portfolio fund actively managed by State Street. PICK is passively managed, while GAL is actively managed. Over the past 10 years, PICK returned 16.39%/yr vs 8.24%/yr for GAL. A 0.68 correlation means they provide meaningful diversification when combined. PICK charges 0.39%/yr vs 0.35%/yr for GAL.
Performance
PICK vs. GAL - Performance Comparison
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Returns By Period
In the year-to-date period, PICK achieves a 14.51% return, which is significantly higher than GAL's 6.93% return. Over the past 10 years, PICK has outperformed GAL with an annualized return of 16.39%, while GAL has yielded a comparatively lower 8.24% annualized return.
PICK
- 1D
- -2.43%
- 1M
- -7.52%
- YTD
- 14.51%
- 6M
- 14.07%
- 1Y
- 63.17%
- 3Y*
- 17.30%
- 5Y*
- 9.85%
- 10Y*
- 16.39%
GAL
- 1D
- -0.16%
- 1M
- -0.67%
- YTD
- 6.93%
- 6M
- 6.22%
- 1Y
- 16.21%
- 3Y*
- 13.21%
- 5Y*
- 6.60%
- 10Y*
- 8.24%
PICK vs. GAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PICK iShares MSCI Global Metals & Mining Producers ETF | 14.51% | 51.89% | -16.37% | 9.69% | 2.54% | 22.61% | 27.46% | 16.47% | -18.65% | 38.42% |
GAL SPDR SSgA Global Allocation ETF | 6.93% | 15.95% | 9.85% | 13.32% | -13.41% | 12.23% | 9.33% | 19.59% | -7.71% | 18.67% |
Correlation
The correlation between PICK and GAL is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012 | 0.68 |
The correlation between PICK and GAL has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
PICK vs. GAL — Risk / Return Rank
PICK
GAL
PICK vs. GAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Metals & Mining Producers ETF (PICK) and SPDR SSgA Global Allocation ETF (GAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PICK | GAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.33 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 2.60 | +0.65 |
| Martin ratioReturn relative to average drawdown | 12.00 | 10.72 | +1.29 |
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Drawdowns
PICK vs. GAL - Drawdown Comparison
The maximum PICK drawdown since its inception was -68.87%, which is greater than GAL's maximum drawdown of -28.31%. Use the drawdown chart below to compare losses from any high point for PICK and GAL.
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Drawdown Indicators
| PICK | GAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.87% | -28.31% | -40.56% |
Max Drawdown (1Y)Largest decline over 1 year | -19.54% | -6.27% | -13.27% |
Max Drawdown (3Y)Largest decline over 3 years | -32.52% | -9.12% | -23.40% |
Max Drawdown (5Y)Largest decline over 5 years | -36.37% | -21.14% | -15.23% |
Max Drawdown (10Y)Largest decline over 10 years | -52.72% | -28.31% | -24.41% |
Current DrawdownCurrent decline from peak | -14.71% | -2.20% | -12.51% |
Average DrawdownAverage peak-to-trough decline | -24.05% | -3.73% | -20.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.28% | 1.52% | +3.76% |
Volatility
PICK vs. GAL - Volatility Comparison
iShares MSCI Global Metals & Mining Producers ETF (PICK) has a higher volatility of 13.30% compared to SPDR SSgA Global Allocation ETF (GAL) at 3.74%. This indicates that PICK's price experiences larger fluctuations and is considered to be riskier than GAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PICK | GAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.30% | 3.74% | +9.56% |
Volatility (6M)Calculated over the trailing 6-month period | 26.68% | 7.70% | +18.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.24% | 9.31% | +20.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.15% | 10.52% | +17.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.34% | 11.39% | +16.95% |
PICK vs. GAL - Expense Ratio Comparison
PICK has a 0.39% expense ratio, which is higher than GAL's 0.35% expense ratio.
Dividends
PICK vs. GAL - Dividend Comparison
PICK's dividend yield for the trailing twelve months is around 2.26%, less than GAL's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAL SPDR SSgA Global Allocation ETF | 3.18% | 3.47% | 2.99% | 2.56% | 6.19% | 4.05% | 2.14% | 2.96% | 2.43% | 2.26% | 2.43% | 3.10% |
PICK iShares MSCI Global Metals & Mining Producers ETF | 2.26% | 2.88% | 3.26% | 4.19% | 6.93% | 5.89% | 2.27% | 5.51% | 4.77% | 2.41% | 1.15% | 15.77% |
Frequently Asked Questions
PICK and GAL have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PICK has higher volatility (13.30%) compared to GAL (3.74%). In terms of maximum drawdown, PICK dropped -68.87% vs GAL's -28.31%.
On 10-year performance, PICK leads with 16.39% vs 8.24% for GAL. On fees, GAL is cheaper at 0.35% per year. On volatility, GAL has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PICK has performed better with a 16.39% return vs 8.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GAL is cheaper with a 0.35% expense ratio, compared with 0.39% for PICK.
GAL has the higher dividend yield at 3.18%, compared with 2.26% for PICK.
PICK is categorized as Metals, while GAL is Diversified Portfolio. They also come from different issuers: iShares and State Street. Their fees differ too: 0.39% for PICK and 0.35% for GAL.
PICK currently has the higher Sharpe Ratio (2.10 vs 1.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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